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12 July, 07:06

If the APY of a savings account is 4.7%, and if the principal in the savings account is $4500 for an entire year, what will be the balance of the savings account after all the interest is paid for the year?

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  1. 12 July, 07:37
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    Total = principal * (1 + rate) ^1

    total = 4,500 * 1.047

    total = 4,711.5 0
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